November 24, 2017

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HOME REGIONS Russia & CIS › Russian market exceeds US$5.64 billion in first quarter

Russian market exceeds US$5.64 billion in first quarter

by Stuart Wilson, Thursday 25 May 2017

Russian market value exceeded US$5.6 billion in the first quarter of 2017
Russian market value exceeded US$5.6 billion in the first quarter of 2017

Research house GfK’s most recent TEMAX analysis of the ICT, telecoms and consumer electronics market in Russia indicates that the total market value hit US$5.64 billion in the first quarter of 2017. Sales in the telecoms segment climbed 9.7% year-on-year in local currency terms to hit US$1.7 billion.

GfK identified several growing categories including portable speakers and action cameras in the consumer electronics segment. In photography, GfK highlighted a move towards professional products and an increase in online purchasing. More than 30% of the value of the photography category in Russia is now accounted for by online sales.

In the technology space, falling price points meant that while volumes were up 5% year-on-year driven by demand for laptops desktops and monitors, the value of the category declined.

In the telecoms segment GfK stated: “The demand growth is observed mainly in the regions outside Moscow and Central region. However, even in the mature market, smartwatches and accessories are supporting a positive turnover trend.”

GfK will deliver a keynote speech, a breakfast briefing and two workshop sessions at DISTREE Russia 2017 next month, providing deep insight into consumer tech trends in the Russian market.

GfK’s TEMAX research measures the size of the ‘technical consumer goods’ market, which includes the following product categories: consumer electronics; photo; major domestic appliances; small domestic appliances; IT; telecoms, office equipment and consumables. GfK TEMAX is an index developed by GfK to track the technical consumer goods market in countries around the world.

DISTREE Russia 2017

We are pleased to confirm that Channel EMEA is an official Media Partner for all DISTREE events in 2017, including DISTREE Russia. DISTREE Russia will return to Moscow in 2017. The country’s leading technology channel event will once again offer technology suppliers access to Russia leading retailers, e-tailers and resellers in one place at one time. DISTREE Russia will take place at Hotel Yahonty (www.yahonty.ru) in Moscow on the 21-23rd June 2017.

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